effectiveness of recruitment process at bajaj allianz by pallavi patankar

7/31/2019 Effectiveness of Recruitment Process at Bajaj Allianz by Pallavi Patankar

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A PROJECT

REPORT

ON

EFFECTIVENESS OF RECRUITMENT PROCESS

AND

ANALYSIS OF EMPLOYESS SETTLEMENT

AT

BAJAJ ALLIANZ

SUBMITTED TO

UNIVERSITY OF

PUNE

IN PARTIAL FULFILLMENT

OF

M ASTER IN BUSINESS

ADMINISTRATION

BY

MS. PALLAVI NARENDRA

PATANKAR

M B A -II

(2004-2006)

V IS HW AKAR MA I NS TI TU TE OF

MANAGEMENT

PUNE

.

INDE

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Chapter Chapter Name Pageno.

No.

1 Executive summery 1

2 Introduction of subject33 Introduction o f Bajaj

Allianz

15

3 .1 I n t r o d u ct io n o f I n s u r a n c e , p r o d u c ts

an d

19

benefits

3.2 National Network andDistribution

22

Channel

3.3 Organization grading structure 24

3. 4 Int rodu cti on to H um anResource

26

Department

4 Introduction of objective ofproject

30

5 ResearchMethodology 32

6 A na ly si s an d In te rp re ta ti on o f Data

35

7 Ob servat ion & Fi nd in gs 63

8 Conclusion66

9 Suggestions 68

10 Annexure 71

11 Bibliography 80

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ACKNOWLEDGEMENT

It would be grateful on mypart to go ahead with this report expressing

my

gratitude to all those who have helped me in completion of myProject.

I heartilythank

BAJAJ ALLIANZ. For giving mean opportunity to carry out

my summer project in well esteemed and diversifiedorganization.

Iowe a debt of gratitude to Shri D.R. Kurane (HEAD HR) and Mrs.Sanjot

Bhole (SR.Excetive) HR in head officepune.

I am also thankful to the entire staff of HRDCentre, for the wonderful

work

environment and all those whose guidance and encouragement helped alot in

the completion of my summerproject.

I am also thankful to our director, Dr. Sharad Joshi and myproject guideDr.

Vandana Gote and Prof. Gandhe for helping me in completing theproject.

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CERTIFICATE

This is to certify that Ms. Pallavi N Patankar is bonafide student of ourinstitute.

She has successfully carried out her Summer Project titledEffectiveness of

Recruitment Process and Analysis of Employees Settlement At BajajAllianz,

Pune.

This is the original study of Ms. Pallavi N Patankar, and an importantsource

used by her has been acknowledged in her report. The report is submittedinthe

partial fulfillment of two-year full time course of Master in BusinessAdministration

(2004-2006) asper rules ofthe Pune University.

Dr. Sharad L. Joshi Dr. Mrs. VandanaGote

(Director) (ProjectGuide)

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EXCECUTIVE SUMMARY

Bajaj Allianz Life Insurance Co.Ltd and Bajaj Allianz General Insurance isvery

well known Insurance Co in Pune & in India also with its largest insurerin the

world had joined hands with famous Bajaj Auto one of the trusted name in

automobiles and house industry in India. This project is titled asEffectiveness of

Recruitment process and Analysis of Employees settlement in Baja AllianzLife

Insurance & tries to find out the different aspects of Recruitment

process and

settlement analysis incompany.

Different officials working in the HR department have provided veryimportant

data in this respect. Formal and Informal interviews as well as theresearch

(through questionnaire) are the basic methods of data collection usedin this

project work. Also secondary data provided by the company officials isof

immense importance. Every effort has beenmade to understand the longterm

plans of company for implementing Recruitment process andEmployees

settlement.

As the Insurance Co is a service industry; the employees serving in thecompany

are the most important elements and that is why recruitment processbecomes

very important in the long run. The settlement analysis also gives thecompany

the final version of Exit process. Taking into consideration this aspect,the

effectiveness of recruitment program and analysis of employ ee ssettlement.

recently being carried out is beenobserved.

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From this project work; company officials will get new insights aboutRecruitment

process and Full and Final settlement of employee s analysis. I have

also

acquired the knowledge of how the Recruitment process and Full and

Final

settlement of employees is carried in Bajaj Allianz Life Insurance HeadOffice

Pune.

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INTRODUCTION

OF

SUBJECT

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INTRODUCTION TO SUBJECT2

Any organization whether business or otherwise requires number ofresource

for its effective and efficient resources and out ofvar ious resources usedthe

Human Resource constitute to be most important resource.

Hence the

selection of the human resource meeting the objective the organization isone

of the impor tantprocesses.

In these processes the various term related to HRMare outlined asunder:

1. RecruitmentProcess.

2. Full and Final settlement of theemployees.

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RECRUITMENT

RECRUITMEN

T

:

The term recruitment is an inseparable process in the world ofglobalization.

Today it has been a linking activity brining together those with job andthose

seeking job. The recruitment process attracts potential employees tothe

organization. The smooth recruitment process can be carried out bypersonnel

department or HR head in the organization. The recruitment process startsfirst

w it h m an po we r planning.

MANPOWER PLANANDREQUISITION:

Every position to be recruited shall be on the basis of an approvedManpower

budget, which shall be sanctioned by the CEO of thecompany.

Recruited against budgeted position will be required to be raisedby the

Department manager using the Manpower Requis ition Form, themanpower

requisition form has to be approved by the functional head and CEOof the

Company in consultation withHead

HR. The approved manpowerrequisition

form shall form the basis for the commencement of the recruitmentprocess.

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Definitio

n:

Recruitment defined by Flippo as a process of searching for

prospective

employees and stimulating them to apply for job in the

organization .

As per Yoder a process to discover the sources of manpower to meetthe

requirement of staffing schedule and to employ effective measure forattracting

that manpower in adequate number to facilitate effective selection of anefficient

working force , thus the purpose of recruitment is to locate sources ofmanpower

to meet job requirement and jobspecifications.

OBJECTIVE:

The objective of recruitment process helps the organization to identifywhether

the selected employee working capabilities are satisfying the companiestargets.

FACTOR AFFECTINGRECRUITMENT:

1. Thesizeof organization

2. The employment conditions in the community where the

organization is

located.

3. The effect of past recruiting efforts which shows the organizationability to

locate and keep good performingpeople.

4. The working condition, salary and benefits package offered bythe

organization.

5. Therate ofgrowth oforganization.

6. The level of seasonality of operation and future expansion andproduction

programmes and the culture, economic and legal factors,etc.

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DIFFERENCEBETWEEN RECRUITMENTANDSELECTION

Recruitment is the process of searching for prospective employees

and

stimulating them to apply for job in the organization. It s often termpositive in

that its objective is to increase the selection ratio, that is, thenumberof

applicant per job opening. Maintains that hiring through selection.Selection is

a process to eliminate applicants, leaving only the best to be placedin the

organization.

SOURCES OF RECRUITMENT:

When organization is needed to fill a vacant organizational position,the

individual may come from inside or outside the organization. There aretwo

source of recruitment asfollows:

1. Internal sources

2. External sources.

The Internalsource

of recruitment means promotion of worker

or

employee from lower level to higher level. The recruitment processis

carried within the organization. Mostly this process is used to fillvacancies

of middle and top levelpersonnel.

The Externalsource

of recruitment is used to fill vacancies at lowestlevel

or at the time of expansion of the organization of the firm or wherejob

specification cannot meet by present employees. The commonly

used

outside sources are as follows:

1. Contact through presentemployees.

2. Formeremployees.

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3.Intermediaries.

4. Recruitment at

gate.

5 . Unsolicited

Application.

6.Advertisement.

7. School, College, University and TechnicalInstitution.

8. EmploymentExchange.

9. Private Agencies.

10. Professional Bodies.

11. Personnel Consultant.

1 2. P ar t t im eemployee.

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RECRUITMENT PROCESS:

Manpower Plan

Position Description

ManpowerRequisition

BlankApplication

Preliminary Interview

Application Form

Personal Test: a) Intelligencetest.

b) Aptitudetest

c)Personality test.

Employment Interview.

Selection

MedicalExamination

Appointmentletter

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SELECTION PROCESS:

The selection process is essentially a series of method of securingpertinent

information about the applicant. At each stage, facts maycometo light andmore

is learned about the applicant. The information obtained can becompared with

the job specification, the standard of personnel. If the applicantqualifies, he

advances to the next step; otherwise he is rejected. Thus, the jobspecification

and the job applicant are present at each step in the selection procedure.Each

step constitutes the means by which the applicant s Qualificationcan be

compared with the minim requirem ent established in the jobspecification. The

procedure may be compared to a series of successive hurdles or barrierswhich

an applicant must cross. These are intended as screens, and they aredesigned

to eliminate an unqualified applicant at any point in theprocess.

Definitio

n:

Having identified the potential applicant, the next s tep is toevaluate their

experience and qualification and m ake a selection. It refers to theprocess of

offering job to one or more applicant from the application. Great attentionhas to

be paid to selection because it means establishing the best fitbetween Job

requirements on the one hand, and the candidate Qualification on the

other.

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INTRODUCTION TO SUBJECT

An organization is a combination of individual and groups. Peoplein the

organization work; perform with facilities necessary for its execution, thatthe

duties performed provide the best channels for efficient, systematic,

positive and

co-ordinate application of availableeffort.

But in an organization there are various problems like languages, socio-political,

cultural background, lack of professional skill, miscommunication,and

technology, no promotion, personal problems etc, which arises problemof

Separatio

nt o e mp lo ye es f ro m a norganization.

SEPARATIO

N:

Normally the company is interested in maintaining manpower andnourishing

them. There are certain situation employee s leaves organizations due tovarious

reasons as specifiedabove.

The company wants to settle there dues and whatever are due toemployees

they should takeit.

The settlement of dues is knownas

Full and Final Settlement of

employees.

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FULL AND FINAL SETTLEMENT OF EMPLOYESS.

WHAT IT

MEAN:

The term Full and Final Settlement of employees means when anemployees

leaves ser vice of a particular organization and company wants to settle allthere

Duesand take all those monetary benefits which he has not received andsome

are received while leaving the organization only and the employee wants tosettle

thatFinally.

When an employee submits resignation letter, or is terminated, orhas

abandoned his services voluntary. The Full and Final settlementdues are

calculated by HR person in the organization. The HR person finallyprepares a

statement of Full and Final settlement ofemployees.

This process of calculation of amount payable and amount recoverable iscalled

Full and Final Settlement ofemployees.

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PROCESS OF FULL AND FINAL SETTLEMENT

IN

BAJA

J

ALLIAN

Z.

In Bajaj Allianz the Full and Final settlement of the employees whohas left

service there Full and Final statement is prepared byauthorized executiveinHR

department. The Full and Final statement is prepared by Head officeauthorized

executive in HR department only. The settlement is done as perfollowing

procedure.

In Bajaj present scenario of settlement is asfollows:

The form of settlement i.e. Exit report is divided in 2parts

In first part Head of department / Branchhead

fill s the form of employeegiving

informationlike:

Name of employee. Code, Designation, Branch, Type of exit, Notice payto

be recovered or not, last date attended, performance rating, and hard copyof

resigned letter etc. and forward to H Rexecutive in Head Office for furtheraction

through proper channel.

In second

part consists of Head office clearancelike:

1 st a) Salesadministration

clearancewhether bonuspaid or recovery.

b)If any other recovery.

2 a) Finance

clearance

whether any amount to be recovered like

travel

nd

advance, housing loanetc.

3 HR

clearance

a) Calculate EL and variable pay and ensure it is given ornot.

rd

b) To verify all other department has given clearance ornot.

c) To see Annual salary statement and verify other allowance likemedical,

telephone, etc are given or not.

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d) Tosee Annual salary statement andverify deduction has been done ornot.

Deduction like provident fund, professional tax, parivartan.

Etc

d) TOverify whether salary for lastmonth is given or not.

e) To deduct if Advance salary isgiven.

f) Finally do the processing as per rules of Income Taxlike:

a) Deduction under u/s16.

b) Deduction underchapterVI-A

c) Tax on Totalincome.

g) After the above process verified prepare a statement of Full and

Final

settlement with the details of employee who left the service and prepareEarning

and Deduction head and calculate the dues of the leftemployee.

h) Finally give letter of clearance and Issues cheque tothe

Employee.

All the 55 branches of Bajaj Allianz has to submit the Exit report to HEADoffice

with detailed information specified as above as there is centralizedprocess.

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INTRODUCTION

OF

BAJAJ ALLIANZ

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3 B aj aj Al lian z L if e I ns uran ce Co .L td

Bajaj Allianz Life insurance Company Limited is a joint venturebetween

Allian

z

AG of Germany

and

B aj aj A ut o

Limited

.

Characterized by global presence with a local focus and driven bycustomer

Orientation to established high earning potential a financial strength, BajajAllianz

Life Insurance Company was incorporated on12

th March2001.

The company received the Insurance Regulatory and DevelopmentAuthority

(IRDA ) Certificate of Registration(

R3) NO116 on3

rd August2001

to conduct

Life Insurance business inIndia.

Allianz AG one of the largest insurer in the world had joined hands withBajaj

Auto one of the highly trusted name in the automobiles and householdindustry in

India for a joint venture for their insuranceoperation and is one of thefew

Companies which is engaged in both Life and Non life InsuranceCompany

banner Allianz Bajaj Life Insurance Company Limited and Bajaj AllianzGeneral

Insurance Company Limited. The Investment ratio between Bajaj andAllianz is

26:74.

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CORE VALUE OF BAJAJ ALLIANZ LIFE INSURANCE

AND WHAT IT STANDS FOR

Co re v a lue o f Ba ja jAllianz

Understanding the customer sneeds.

Meeting the customer srequirement.

Ensuring optimal performance at lowest

cost.

C om mi tm en t t oexcellence.

What Bajaj Allianz Stands

For

Dynamic and successfulorganization.

A soc ially valuedenterprise.

Businessintegrity.

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VISION AND MISSION

Bajaj Allianz Life Insurance Co.Ltd

Shared

Vision:

To be the best Life Insurance Company in India to buy from, work forinvest in.

Shared

Mission:

1. To be in the top 3 new Life Insurance company in India by newbusiness andinforce business by2006.

2. To have PAN Indiapresence.

3. To provide highest: quality service byensuring :

oHighest customer retention in industry (90% first

year)

oEvery customer will be contacted by us at least onceper

year.

oWe respond to customer/ agent within 48hours

oEmbrace technology to optimizeefficiencies.

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INTRODUCTION

OF

INSURANCE , PRODUCT AND

BENIFITS

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3.1 INSURANCE

INTRODUCTION TO INSURANCE :

Insurance is an instrument, which protect the financial loss arising outofan

uncertain event contingent to human beings and is mechanism toshare the

financial loss of an individual or group of people due to an unforeseenevent

between the individual or group of people who are exposed to the samekind

ofrisk.

PRODUCT :

Bajaj Life Insurance Company Limited offers the product asfollows:

1. InvestGain

2. Cashgain

3. LifetimeGain

4. ChildCare

5. Risk Care

6. TermCare

7. SaveCare EconomySingle Premium

8. SwaranaVishranti

9. UnitGain

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BENEFITS:

1. Insurance protection to dependent, Thrift saving, taxBenefits.

2. A husband, for instance, may buyan insurance policyto ensure his wifeand

children are taken care of should anything happen tohim.

3. Parents buy insurance for the future saving of their childreneducation and

social obligation.

4. Motor Insurance ensures the money backto

CUREURCAR .

5. Protects the financial loss of household articles by theft or naturalcalamities.

6. Protects the financial loss ofbuildings and other valuablesbyfire.

7. protects against medical bill for hospitalization due to unexpecteddiseases or

accident

8.Accidental

Insurance with hospital benefits eases with bill ofmedical

expenses.

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INTRODUCTION

OF

NATIONAL NETWORK

AND

DISTRIBUTION CHANNELS

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3.2 NATIONAL NETWORK

Bajaj Allianz Life Insurance Co.Ltd is a large and diversifiedorganization.

Bajaj Allianz Life Insurance Cohas a national network. Bajaj Allianz has55

branches all over India. The Head Office is located inPUNE.

DISTRIBUTION CHANNELS

The Distribution Channels of Bajaj Allianz is done all over India. TheChannels is

the vital process of the company. The Channels Description is asfollows:

Channel Description

Individual Channel IndividualAgencies

Corporate Agency Channel Through corporates,large

partnerships/privatelimited

companies

Bancassurance ThroughBanks

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INTRODUCTION

TO

ORGANISATION GRADING STRUCTURE

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3.3 GRADING STRUCTURE

Bajaj Allianz Life Insurance Co.Ltd

Theinternal grading structure in the organization isdone byManagement &

HR

head. This grading system is followed by all 55 branches of Baja Allianz

and

Head office also. The grading system consists offollowing:

Description

Level

Department heads leadership roleL5

Department heads/ regionalheads/

L4

saleshead

Managers/ functional heads L3A

B

Assistant Manager supervisory role L2 A

B

Support staff L1

A

B

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INTRODUCTION

TO

HIUMAN RESOURCES DEPARTMENT

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3.4 HUMAN RESOURCE DEPARTMENT IN

BAJAJ ALLIANZ.

Policies:

InMultinational Companylike Alliaz Bajaj HRplanning and policiesplays

amajor role in the growth ofthe organization.

HR planning foreseen the man power requirement. The need like food,sanitation

is the basic function of the HRplanning.

Motivation is the inseparable part of Allianz Bajaj`s HR policies, Cricket

match

between Allianz Bajaj recently proved thetruth.

The HRdepartment should update the manual of the company. As thesemanual

contains Govt made rules and regulation. The management can alsomake

changes in the manual. The manual contains the rules & policies of thecompany.

The manual is the internal document of thecompany.

The other policies for HR department are that the company shall haveManpower

planning for one-year period, based on the business plan for the year.

There

shall be no recruitment outside the manpower plan without prior approval ofhead

HR and CEO.There is Joining Formalities , Internal grading structure,salary

processing form alities, service condition, Additional HR policies, policiesfor

Resignation/Termination. Apart from the work the individual view istaken into

consideration. Any problem in the organization to an of their teammember

personal consul ling is done & tries to satisfy their need i.e.

(sociological &

psychological needs). In this organization all decision are taken by Headoffice

HR for all 55 branches. Even they take decision regarding Day to Dayactivity.

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The ultimate objective of the co. is in the growth of organization. If

policies

are not made and implemented and proper care is not taken of human

assets i.e.

employees than there is no progress to the employees and organization.

So

policies are important as well their employees who are key per son whofollows

policies.

Objectives:

The Human Resource objective consists of thefollowing:

1. Manpower

planning.

2. Recruitment andselection.

3 . EmployeeDevelopment.

4. PerformanceAppraisal.

5. Developbelongingness for work.

6. Excellence performance award everymonth.

7. To build organization with integration, honesty & Quality ofwork.

8. Planning future goals for career

development.

9. Teamwork & cooperation with people in theorganization.

10. To provide security for work.

11. Promotion.

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STRUCTUREOFHUMANRESOURCEDEPARTMENT

Head-HRL4

B

National Asst. Mgr- HR Dy.Mgr Hr

Mgr.Corporate L2B L2B

Hfgkfg

Jr.Exce-HRJr Exce-Hr Sr.Exce-HR Sr.Exce-HR Mgt.Trainee

L1BL1B L1A L1A

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INTRODUCTION

OF

OBJETIVE OF PROJECT

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4 OBJECTIVES OF THE PROJECT

Every project report is carried out with some specific OBJECTIVE inthe

mind. Objective is basically the purpose behind conducting a project andunless

the objective is certain or specifically defined it is not understood whatdata has

to be collected. Objectives of the pr oject are nothing but what is to belearned

out of this project report.

Specific objectives of this ProjectReport

Tounderstand:

1. Understand various HR tools used in handlingRecruitment?

2 To have exposure to recruitmentprocess?

3 To have exposure to employees dues settlementprocess?

4 Whether the recruitment process and settlementprocess are

satisfactory?

5 Tounderstand howeffective the computer system or newtechnology isin

the recruitment system& settlementprocess?

So in this project report I have made every effort to understand theabove

specified objectives keeping in mind the present scenario of the

RecruitmentandFull and Final Settlement of employee s process and collectdata.

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Research Methodology

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5 Research Methodology.

Research Methodology is a systematic method of discovering new factsor

verifying old facts, their sequenc e, inter-relationship, casual explanationandthe

natural laws which governsthem.

Research Methodology explained by Redman and Mory are asfollows

systematized effort to gain newknowledge

Research Methodology is original contribution to the existing stock ofknowledge

making for its advancement. It is the purist of truth with the helpof study.

Observation, comparison and experiment. In short also covers thesystematic

method of finding solution to a problem is research. It also covers thesystematic

approach concerning generalization and the formulation of the theory.Different

stages involved in research consists of enacting the problem,formulating a

hypothesis, collecting the facts or data, analyzing the facts and reachingcertain

conclusion either in the form of solution towards the concerned problemor in

generalization for some theoreticalformulation.

In Research Methodology mainly Data plays an importantrole.

The Data is divided in two

parts:a) Primary Data.

b) Secondary Data.

Primary Data is the data, which is collected directly by direct personalinterview,

interview, indirect oral investigation, Information received through localagents,

drafting a schedule, drafting aquestionnaire.

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Secondary

Data

is the data, which is collected from the various

books,

magazine and material, reports, etc. The data which is stored in the

organization

and provide by the HR people are also secondary data. The variousinformation

is taken out regarding that subject as well other subject from various sourcesand

stored.

The last years data stored can also be secondary data. This data is keptfor the

internal use of the organization. The HR manual is for the internal useof the

organization they are secondary data which help people to gain

information.

In this report the data plays a very crucial role. For this report the datawas

provided to me by HR department and other departm ental headin the

organization.

The Primary and Secondary

data which is specified above was providedby:

a) Assistant Manager HR-Recruitment

b) Junior Executive HR- Full andFinal.

c) Other department

head.

Due to discussion with these people lot data as well latest information wasknown

by these people which was very beneficial and was primary data to me.The

questionnaires the primary data was the main key which helpto analysisdata.

This is the Research Methodology used in the project. The primaryand

secondary data method has been used in this project. Unless the

data is

collected no project can be complete. So both these data is very importantinthe

project.

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ANALYSIS AND INTERPRETATION OF

DATA

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6 ANALYSIS AND INTERPRETATION OF DATA

Since Recruitment and Full and Final system is important activityin any

organization. The emphasis was lead on findings of views of variousemployees

about the Recruitment process and Full and Final settlement followed inBajaj

Allianz.

Because in origination there are written and unwritten processrelated to

Recruitment and Full and Final Settlement of Employees on whichemployees

view are important as a good policy ofHRM.

Accordingly, the survey which was carried out was an eye opener anddetails

analyses of my survey are explained in forth comingPara.

A Research was conducted in Head office Pune of various departmentsincluding

HRdepartment.

Sample sizes of 10 people were taken for effectiveness ofRecruitment.

Sample sizes of 10 people were taken for Full and FinalSettlement

Data was collected on the basis of Questionnaire and Informaldiscussion.

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ANALYSIS AND INTERPRETATION OF DATA

E ff ec ti ve ne ss o f Recruitment.

Q.1. Are you satisfied with Recruitment system in BajajAllianz?

a) Not at all b)satisfied c) TotallySatisfied d) TotallyGood

e) Excellent.

Options b d eTotal

Response 3 3 410

% 30 30 40 100

50

40

30

20

10

0

a b c de

Response

Response Percentage

Interpretatio

n:

From the above response it is seen that most of the employ ees areoverall

satisfied by the recruitment system in the company. They have clarityof the

process.

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Q.2. Whether the Recruitment process is

documented?

a) Yes b)

No

Option a bTotal

Response 6 4 10

% 60 40 100

70

60

50

40

30

20

10

0

a b

response

response%

Interpretatio

n:

From the above response it is seen that majority of the employees feelthat

Recruitment process is documented in the company. However they can

access

when ever they want. 40%of the peopledon t have knowledge aboutit.

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Q.3. Whether the Recruitment process is documented if YES

than the

substances level of its knowledge to others

is:

a) Clear b)Vague.

Option a bTotal

Response 4 26

6633

% 100

70

60

50

40

30

20

10

0

ab

response

response %

Interpretatio

n:

From the above response it is seen that 66% employees are having only

clear

and under stable knowledge of the documented process of therecruitment. The

other employees are finding itvague.

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Q.4. Whether the Recruitment system is transparent at all

level?

a) Not at all b)To someextent c) To great

extent.

Option a b cTotal

Response 2 6 2 10

% 2060 20 100

70

60

50

40

30

20

10

0

ab c

response

response%

Interpretation:

From the above response it is seen t hat employees of t he company hassome

doubts about the transparency of the Recruitment system. The companyshould

investigatefurther.

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Q.5. Is the Recruitment process uniform at all

level?

a) Yes b) No c) varies as per

department.

Option a cTotal

Response 3 7 10

% 30 70 100

80

70

60

50

40

30

20

10

0

ab c

Response

Response Percentage

Interpretation:

From the above responses it is seen that recruitment process varies many ofthe

times from department to department so it helps the department headstoselect

the right person for the job as per his requirement andneeds.

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Q.6. Whether the other department head is constitutes in the interview

ofthe

recruitment

process?

a) Totally linked b) partially linked c)Notat all.

Options a b cTotal

Response 3 4 310

% 30 40 30 100

50

40

30

20

10

0

ab c

response

respons e%

Interpretatio

n:

From the above responses it is seen that only few department head sare

considered during the interview process and majority of the time they are

partially

linked i.e. they only have to set paper and decided thepackage.

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Q.7. Whether the response of HRdep artment or person on vacancyis?

a) Not slow b) slow c) Quick d) Very responsive e)

Excellent.

Options b c eTotal

Response 3 5 2 10

% 30 50 20100

60

50

40

30

20

10

0

a b c de

Response

Response Percentage

Interpretatio

n:

From the aboveresponse it isseen that more than 50%the employee fellsthat

the response is quick. But in few cases it isslow.

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Q.8. Whether the written test design gives real advantage or

satisfaction?

a) Not at all b) satisfaction c) Total Satisfaction d) Totally

good

e) Excellent.

Option a cTotal

Response 8 2 10

% 80 20 100

100

80

60

40

20

0

a b c de

Response

Response Percentage

Interpretatio

n:

From the above response it is seen that majority of the employeesfind the

written test are not at all beneficial or advantage as it is time consuming.Only

few agree to the testdesign.

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Q.9. Whether the duration of the writtenis?

a) Tooshort b)Not long c) Long d) Toolong.

Options a c dTotal

Response 1 4 5 10

% 10 40 50100

60

50

40

30

20

10

0

a b cd

Response

Response Percentage

Interpretatio

n:

From the above response it is seen that many times the duration of the

test is

long and the employees find it time consuming. The instant like Insurancetest for

junior and new entry finds it long and timeconsuming.

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Q.10. How is the test evaluation of the recruitment

process?

a) Fair b) Justified c) Not

justified.

Option a bTotal

Response 2 8 10

% 20 80 100

100

80

60

40

20

0

a bc

Response

Response Percentage

Interpretation:

From the above response it is seen that the test evaluation is not doneproperly.

There is bias is opinion while evaluating thepaper.

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Q.11. what is the criteria of selection in Bajaj Allianz of the requirement

process if

Knowledge considered rate in

percentage.

a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%

Options b c dTotal

Response 2 5 3 10

% 20 50 30 100

60

50

40

30

20

10

0

a b c de

Response

Response Percentage

Interpretatio

n:

From the aboveresponse it is seen that 51-71%weight is given on knowledge.

If

the criteria is only knowledge for

selection.

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process if

Knowledge + Experience considered rated in

percentage.

a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%

Option d eTotal

Response 7 3 10

% 70 30 100

80

70

60

50

40

30

20

10

0

a b c de

Response

Respo nse Perc entage

Interpretation:

From the above response it is seen that if Knowledge + Experienceconsidered.

Than majority of the employee gives weight on 71-80%.

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process if

Experience considered rated in

percentage.

a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%

Options b c dTotal

Response 3 6 1 10

% 30 60 10 100

70

60

50

40

30

20

10

0

a b c de

Response

Response P erc entage

Interpretatio

n:

From the above response it is seen that if Experience considered. Thanmajority

of the people have rated in between 70% as experience is relevantcriteria and

other 30% case experience is not given importance i.e. experience ismajor

criteria.

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Q.14. Whether the middle level i.e. executive is aware of the

recruitment

Process?

a) Not at all b) To some extent c) Thoroughlyknown

Options a b cTotal

Response 4 3 310

% 40 30 30 100

50

40

30

20

10

0

ab c

response

response%

Interpretatio

n:

From the above response it is seen that information of standardRecruitment

process is not communicated to middle levelexecutive.

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Q.15. The major Man power source in Bajaj Allianz of recruitment process

is?

a) Newspaper b) Internal recruitment c) Campus interview d)

Firm or

Agencies oncontract basis.

Option a b c dTotal

Response 1 3 2 4 10

% 10 30 20 40 100

50

40

30

20

10

0

a b cd

Response

respons e%

Interpretation:

From the above response it is seen that majority of the employees areemployed

from the agencies and later from the internal process. The leastpreference is

given to the campus andnewspaper.

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Q.16. Which is the most powerful method of the interviewing the

candidate and

selecting the candidate in Bajaj

Allianz?

a) Telephonic Interview b) Personal interview c) Video conferenceinterview.

Options a b cTotal

Response 3 4 310

% 30 40 30 100

50

40

30

20

10

0

a b c

Response

response%

Interpretatio

n:

From the above response it is seen that the most powerful method ofselection is

personal interview and than telephonic interview and video conferenceinterview

beneficial in case of longdistance.

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Q.17. Whether the selection in Bajaj Allianz is done on the basis of themerit?

a) Yes b) No c)Can t

say

Options a b cTotal

Response 6 1 3 10

% 60 10 30 100

70

60

50

40

30

20

10

0

a b c

Response

response%

Interpretatio

n:

From the aboveresponse it is clear that majority of the selection are basedon

merit.

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ANALYSIS & INTERPRETATION OF DATA

F ul l a nd F in alSettlement

Q.1. How is Full and Final Settlement System in BajajAllianz?

a) Poor b)Average c)Satisfactory d) Good e) Excellent

Options b c dTotal

Response 2 6 2 10

% 2060 20 100

70

60

50

40

30

20

10

0

a b c de

Response

Response Percentage

Interpretatio

n:

From the above response it is seen that many left employees aresatisfactory

about the Full and Final system in Bajaj Allianz. Few people it average andgood.

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Q.2. The content of Full and Final settlement is uniform at all

level?

a) Yes b) No c) Various as per Grades or Position in the

company.

Option a cTotal

Response 7 3 10

% 70 30 100

80

70

60

50

40

30

20

10

0

a bc

Response

Response Percentage

Interpretation:

From the above response it is seen that Full and Final system content isuniform

most of the time. But in some cases it differs due to higher gradesin the

company.

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Q.3. The duration taken for the Full and Final Clarence

system is?

a) 1-2days b)3-5 days c) 5-7days d) 7-15

days

e) Morethan 15 days.

Options c d eTotal

Response 4 2 4 10

% 40 20 40 100

50

40

30

20

10

0

a b c de

Response

Response P ercentage

Interpretatio

n:

From the above response it is seen that Full and Final process takestime to

complete the settlement. Many times it takes 3-5 and 7-15 days tocomplete it.

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Q.4. The process ofthe Full and Final settlement

is?

a) Small process b) Lengthy process c) Time consumingprocess.

Options a b cTotal

Response 3 5 2 10

% 30 50 20100

60

50

40

30

20

10

0

a b c

Response

response%

Interpretatio

n:From the above response it is seen that many left employee find processlengthy

i.e. 50%. The rest of the employee fined it time consuming and 30% findit small

process.

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Q.5. How is the dispatch system of document from all over India

branches to

Head office of HR department for the process and calculation of the

Full and

Final settlementare?


Options b c dTotal

Response 5 3 2 10

% 5030 20 100

60

50

40

30

20

10

0

a b c de

Response

Response Percentage

Interpretatio

n:

From the aboveresponse it isseen that dispatched ofthe documents tohead

office is average. Most of the employees are not satisfied with thedispatched

s ys te m i s n otsatisfied.

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Q.6. The data provided to Head office HR department from other

Branches are

always correct for Fulland Final process?

a) Yes b)No

Option a bTotal

Response 6 4 10

% 60 40 100

70

60

50

40

30

20

10

0

ab

Response

response%

Interpretatio

n:

From the aboveresponse it isseen that manytimes the data provide toHR

department are write. Only in certain cases it is incorrect due to

technical

problem and due to clericalwork.

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Q.7. How is the process of giving clearance by sales admin and

finance

department after documents reaching and verified by HR

department?

a) Small process b) Lengthy process c) Time consumingprocess.

Option b cTotal

Response 3 7 10

% 30 70 100

80

70

60

50

40

30

20

10

0

ab c

Response

Response Percentage

Interpretatio

n:

From the above response it is seen that most of the time the leftemployees find

the process time consuming. Though some find itlengthy.

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Q.8. The calculations and amount of the Full and Final settlement in Bajaj

Allianz

done byHR ofhead office after getting clearance from 2departmentare?

a) Always right b)Sometimesperfect c)Not at allright.

Option a bTotal

Response 8 2 10

% 80 20 100

100

80

60

40

20

0

ab c

Response

Respons e Percentage

Interpretatio

n:

From the above response it is seen that the calculation of the Full andFinal

settlement is always right. The left employees are satisfied about thecalculation

and the amount received tothem.

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Q.9. After the Clearance is over the Cheque issued in the name of

the left

employees are received in how many

days?

a) 1-2 days b) 3-5 days c) 5-7 days d) 7-15days

Option a b cTotal

Response 3 5 2 10

% 30 50 20100

60

50

40

30

20

10

0

a b cd

Response

Response Percentage

Interpretatio

n:

From the above response it is seen that it takes maximum 3-5 days for a

cheque

to reach a Left employee place. The some employees are satisfied aboutcheque

process receiving and some employees are notsatisfied.

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OBSERVATIONS AND FINDINGS

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7 OBSERVATION AND FINDINGS

Bajaj Allianz Life Insurance Co.Ltd and Bajaj Allianz General Insurance isleading

Company in the marker today. The HR department is having very strongbase

and while doing project in the company the observation and findings foundbyme

are as follows.

1) The company has clarity of the recruitment process and they aredoing

well and recruiting correctcandidates.

2) The recruitment process is centralized in thecompany.

3) The test duration for the senior level officer and fresher is toolong.

Though is beneficial but timeconsuming.

4) The tests provided are online test and the evaluation of the testis also

done by the Head officeHR.

5) The evaluation takes time as they take print out of test paper andgives

marks.

6) The department head are not considered most of the timeduring the

interview. The role of the head was to inform about vacancy toHR.

7) Most of the time the criteria of selection are on the basis of theKnowledge

+ Experience. This is good for thecompany.

8) The companyprovides a good basis for the FRESHER. Which is

apositive side for the both theconcern.

9) The middle level employees of the Head office and the otherbranches are

not aware of the recruitmentprocess.

10) The personal interview is more beneficial than other method ofthe

interview.

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11) The company concentrates more on recuirtment firm for the need ofman

power.

12) The video camera is used for the interview as the time is less

for

interviewing the person.

13) Sometimes candidate selection is not as per the profile for the juniorlevel

staff. E.g. A HR executive is given assistance who is doing CA orB.com

But not MBA or MPMstudents.

14) The other branches have to give 15 days notice for the placevacancy.

15) The candidate selected for the job from all over India are not

given

training at there work place but at Head office and bare theirexpense.

16) The selection of the candidate in Bajaj Allianz is done up to themark.

There is nobias s view for other.

17) The Full and Final settlement of employee s process is centralizedinthe

Bajaj Allianz.

18) Thecompany is having onlysingle authorized executive HRperson todo

the Full and Final settlement employee s process since 3yrs for

the 55

branches.

1 9) T he l ef temployees

documents are to besend to the Headoffice fromthe

other branches inIndia.

20) The data provided by other branches in the form papers areslowin

speed.

21) The sales department and finance department their clearances

process is

alsoslow.

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CONCLUSION

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CONCLUSION

The overall Recruitment process in Bajaj Aliianz is satisfactory. There arecertain

organization objectives both in short term and longterm should be takeninto

consideration as a basic parameter for recruitment decision and needof the

personnel area which will be beneficial to everyone inorganization.

There are minor modifications in the areas like doc umentation ofrecruitment

process, other department head participation in interview, written test,evaluation

of return test and use of latest equipment for interview etc to be made forwhich

suggestions are given in the following paragraphs.

As a matter of good HR practices leaving of employees should beprevented.But

the companyshouldcarry out exit interviewand take correct action to retainthe

employees in the organization. Once the employees leaves theorganization

process of Full and Final Settlement of employees should be completedquickly.

The company should make the process of em ployee s settlement fastas the

documents reach the sales department and financedepartment.

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SUGGESTIONS

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9 SUGGESTIONS

RECRUITMENTPROCESS SYSTEM

1) Therecruitment process in Bajaj Allianz should bedecentralized as perthe 4

region. The branch manager and HR person of that region should haverights

to carry out the recruitment process and must inform the headoffice and

s ho ul d g et i tapproval.

2) The middle level employees should have knowledge of therecruitment

process and the non HR employees should be given a HRmanual.

3) The other department head should be involved in the interview processashe

knows right person for the job of hisdepartment.

4) The selected candidates should beegiven training at their work placebythe

the tr a iner of thedepartment.

5) The test duration should be kept short for the senior level employees sothat

more time is not taken and they can concentrate on thework.

6) The company should develop or provide software which should provide atest

score as the test is over. So the time is saved inevaluation.

7) The company should concentrate on the personal interview asvideo

conference interview cost more money and the candidate is morenervous.

SUGGESTION : FULL AND FINAL SETTLEMENT

8) In Baja Allianz there is only single authorized HR executive in HRdepartment

for doing Full and Final settlement of employees and the companyshould

provide assistance so the work is completedfast.

OR

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9) The Full and Final settlement should be decentralized as per the 4region and

process should be completed by region authorized HR person and

Cheque

should be singed by Head office

HR.

10) The Full and Final system is done by head office HRpersonand

documents provided toHead office isslowin speed so the speed post serviceor

courier service should be changed or tell them to provide betterservice.

11) Thesales administration and Finance department of headofficemust

Increase the speed of the clearances by providing themassistance on

contract basis. So the speed will increase and HR person can do

calculation

fast and process can be short and not toolong.

12) The branch manager should provide correct information of the leftemployees

so that calculation can be done perfectly and HR person should not bealways

asking the branch manager for correctinformation.

13) To avoid the incorrect infor mation by branc h manager the companyshould

have proper MISsystem. So that when time needed both the personcan

access it. Proper Software should be develop and training must be

given to

them regarding ituse.

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ANNEXURE

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ANNEXURE1

The Questionnaire of Recruitment Processes

System

NAME:

DEPARTMENT CODE :

EMPLOYEE CODE:

EMPLOYEE GRADE:

Q.1. Are you satisfied with Recruitment system in BajajAllianz?

a) Not at all b)satisfied c) Totally Satisfied d) TotallyGood

e) Excellent.

a) b) c)d)

e)

Q.2. Whether the Recruitment process isdocumented?

a) Yes b)No

a) b)

Q.3. Whether the Recruitment process is documented if YESthan the

substances level of its knowledge to othersis:

a) Clear b)Vague.

a) b)

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Q.4. Whether the Recruitment system is transparent at alllevel?

a) Not at all b)To someextent c) To greatextent.

a) b)c)

Q.5. Is the Recruitment process uniform at alllevel?

a) Yes b) No c) varies as perdepartment.

a) b) c)

Q.6. Whether the department head is constitutes in the interviewofthe

recruitment

process?

a) Totally linked b) partially linked c)Notat all.

a) b) c)

Q.7. Whether the response of HRdep artment or person on vacancy

is?

a) Not slow b) slow c) Quick d) Very responsive d)Excellent

a) b) c) d) e)

Q.8. Whether the written test design gives real advantage orsatisfaction?

a) Not at all b) satisfaction c) Total Satisfaction d) Totallygood

e) Excellent.

a) b) c) d) e)

Q.9. Whether the duration of the writtenis?

a) Tooshort b)Not long c) Long d) Toolong.

a) b)c)

d)

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Q.10. How is the test evaluation of the recruitmentprocess?

a) Fair b) Justified c) Notjustified.

a) b) c)

Q.11. what is the criteria of selection in Bajaj Allianz of the requirementprocess if

Knowledge considered rate inpercentage.

a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%

a) b) c) d) e)


process if

Knowledge + Experience considered rated inpercentage.

a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%

a) b) c) d) e)

Q.13. what is the criteria of selection in Bajaj Allianz of the requirementprocess if

Experience considered rated inpercentage.

a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%

a) b) c) d) e)

Q.14. Whether the middle level i.e. executive are well know of therecruitment

Process?

a) Not at all b) To some extent c) Thoroughlyknown

a) b) c)

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Q.15. The major Man power source in Bajaj Allianz of recruitment process

is?

a) Newspaper b) Internal recruitment c) Campus interview d)

Firm or

Agencies oncontract basis.

a) b)c)

d)

Q.16. Which is the most powerful method of the interviewing thecandidate and

selecting the candidate in BajajAllianz?

a) Telephonic Interview b) Personal interview c) Video conferenceinterview.

a) b) c)

Q.17. Whether the selection in Bajaj Allianz is done on the basis of themerit?

a) Yes b)No c)Can tsay

a) b) c)

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ANNEXURE2

The Questionnaire Full and Final

System

NAME:

DEPARTMENT CODE :

EMPLOYEE CODE:

EMPLOYEE GRADE:

Q.1. How is Full and Final Settlement System in BajajAllianz?


a) b) c) d) e)

Q.2. The content of Full and Final settlement is uniform at alllevel?

a) Yes b) No c) Various as per Grades or Position in thecompany

a) b) c)

Q.3. The duration taken for the Full and Final Clarencesystem is?

a) 1-2days b)3-5 days c) 5-7days d) 7-15days

e) Morethan 15 days.

a) b) c) d) e)

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Q.4. The process ofthe Full and Final settlementis?

a) Small process b) Lengthy process c) Time consuming

process.

a) b) c)

Q.5. How is the dispatch system of document from all over Indiabranches to

Head office of HR department for the process and calculation of theFull and

Final settlementare?


a) b) c) d) e)

Q.6. The data provided to Head office HR department from otherBranches are

always correct for Fulland Final process?

a) Yes b)No

a) b)

Q.7. How is the process of giving clearance by sales admin andfinance

department after documents reaching and verified by HRdepartment?

a) Small process b) Lengthy process c) Time consumingprocess

a) b) c)

Q.8. The calculations and amount of the Full and Final settlement in BajajAllianz

done byHR ofhead office after getting clearance from 2departmentare?

a) Always right b)Sometimes perfect c) Not at allright.

a) b) c)

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Q.9. After the Clearance is over the DD issued in the name of the leftemployees

are received in how many

days?

a) 1-2 days b) 3-5 days c) 5-7 days d) 7-15

days

a) b)

c)

d)

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ANNEXURE3

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BIBLIOGRAPHY

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BIBLIOGRAPHY

Books

H um an R es ou rc eManagement

- A nj al iGhanekar

Manual

HRD Manual of Bajaj

Allianz.

Websites

www.google.com

www.bajaj allianz. com

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effectiveness of recruitment process at bajaj allianz by pallavi patankar

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